Justin Sun’s Tron is now the largest investor in Donald Trump’s DeFi project, World Liberty Financial.
Background
- Sun bought $30 million worth of WLFI tokens
- The project was launched pre-election
- However, token sales were restricted to non-US users and US-accredited investors
- Alongside, the tokens were non-transferable, opening the doors for skepticism
- Trump is the project’s ‘Chief Crypto Advocate’
- Meanwhile, his sons, Eric, Barron, and Donald Trump Jr. are ‘Web3 ambassadors’
Why should you pay attention?
- WLFI token sales have been withered since launch
- The project set a target of selling $300 million worth of tokens
- However, it managed to sell only $21 million worth WLFI before Sun's purchase
- The latest investment injection could help change the trajectory of the token
- The “gold paper” [white paper] chalked out that Trump’s company would profit once the sale proceeds exceeded $30 million
- Given that the said threshold has now been surpassed, the President-elect’s company, DT Marks DEFI LLC, is entitled to 75% of the net revenue fetched
Who said what?
- In a post on X [formerly Twitter], Sun emphasized,
“The U.S. is becoming the blockchain hub, and Bitcoin owes it to Donald Trump!”
- Notably, BTC's price has been soaring since Trump was re-elected as President by the Americans
- Commenting on the latest development, World Liberty Financial’s co-founder Zak Folkman said,
“This sizable purchase of WLF tokens underscores the early success of this project”
- He added,
“There have been several significant purchases in recent weeks, and we are confident in our future success as we build a platform that promotes freer and fairer finance”
Zooming out
- The WLFI team expects “more such developments” to shape up “in the coming weeks and months”
- Meanwhile, Sun emphasized that Tron is committed to “making America great again” and “leading innovation”
